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Exxon, facing heat over climate change, holds annual meeting

Exxon Mobil

DALLAS (AP) — Exxon Mobil is holding its annual shareholder meeting as it faces volatile crude prices and investigations into what it knew and allegedly didn’t disclose about oil’s role in climate change. Shareholders are scheduled to vote Wednesday on resolutions including a policy to limit global warming, put a climate expert on the board, and report on the drilling ...

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Shell to cut at least another 2,200 jobs globally

Shell expects 4th Q profits to drop at least 40 percent

LONDON (AP) — Anglo-Dutch oil company Royal Dutch Shell says it will trim at least 2,200 jobs globally amid challenging times in the oil industry. The losses are in addition to cuts already being implemented because of the energy company’s merger with BG. The losses will include some 475 positions in the North Sea. Oil companies around the world are ...

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Global stock markets rally on US recovery hopes

global stock market

SEOUL, South Korea (AP) — Global stock markets rallied Wednesday as solid U.S. data raised expectations for a strong recovery in the world’s largest economy. European stocks were buoyed also by a deal to get Greece more rescue loans. KEEPING SCORE: Britain’s FTSE 100 rose 0.6 percent to 6,255 while France’s CAC gained 0.9 percent to 4,472. Germany’s DAX advanced ...

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Man indicted in $7.9M oil, gas fraud case in Kansas

idea of punishment for financial fraud, an employee of Whiting petroleum was recently charged with racketing and fraud charges

WICHITA, Kan. (AP) — A Hillsboro man has been indicted in connection to what prosecutors say was a $7.9 million oil and gas scheme. Acting U.S. Attorney Tom Beall said in a news release that 70-year-old David Lawson was indicted on one count of wire fraud Tuesday. Prosecutors say that while Lawson was the owner and director of Sonstone Trading ...

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Seafood company, lawyers must return $1 million in spill money

oil, spill, Seafood company

NEW ORLEANS (AP) — A federal judge has ordered the return of more than $1 million in settlement money granted to a seafood company after the 2010 Gulf of Mexico oil spill. U.S. District Judge Carl Barbier (BAHR’-bee-aye) ruled Tuesday that Crystal Seafood Company defrauded administrators of a BP settlement fund by claiming to be an ongoing Port-Arthur, Texas-based business ...

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Buffett’s company keeps adding to its Phillips 66 investment

Warren Buffett, Phillips 66

OMAHA, Neb. (AP) — Warren Buffett’s company now owns nearly 15 percent of Phillips 66 after buying 642,841 shares of the oil refiner over the past week. Berkshire Hathaway Inc. disclosed the recent purchases in documents filed with the Securities and Exchange Commission on Monday. Berkshire now owns nearly 76.4 million Phillips 66 shares. Berkshire revealed owning over 10 percent ...

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Stocks little changed, but crude sheds 39 cents

stocks

NEW YORK (AP) — Stocks were little changed in early trading Monday, as investors sat on the sidelines waiting to see where the Federal Reserve might move interest rates next month. Energy stocks fell along with the price of crude oil. KEEPING SCORE: The Dow Jones industrial average rose 13 points, or 0.1 percent, to 17,514 as of 10:09 a.m. ...

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Bristol Compressors to lay off about 120 employees

BRISTOL, Va. (AP) — Bristol Compressors says it plans to lay off about 120 employees as part of a restructuring plan. Local media outlets report the company made the announcement Monday. Bristol Compressors CEO Ed Gniewek said in a statement that the cutbacks are due to lower global oil prices and budget cuts by the oil producing governments. Workers have ...

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